AT Properties Limited
AT Properties Limited
Registered number: 04939007
Unaudited Financial Statements
For The Year Ended
5 April 2020
Brooks Accountants
Chartered Certified Accountants
Bank House
9 Dicconson Terrace
Lytham St. Annes
FY8 5JY
AT Properties Limited
Unaudited Financial Statements
For The Year Ended
5 April 2020
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
AT Properties Limited
Balance Sheet
As at
5 April 2020
Balance Sheet
Registered number:
04939007
For the year ending 5 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2020 | 2019 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 6 |
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| Investments | 7 |
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| CURRENT ASSETS | |||||
| Debtors | 8 |
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| Creditors: Amounts Falling Due Within One Year | 9 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 10 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 11 |
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| Revaluation reserve | 12 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 558,054 | 496,561 | |||
Page 1
AT Properties Limited
Balance Sheet (continued)
As at
5 April 2020
Director's responsibilities
-
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
AT Properties Limited
Notes to the Financial Statements
For The Year Ended
5 April 2020
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2.
Turnover
Turnover comprises of rents receivable.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets less their estimated residual value, over their expected useful lives on the following basis:
| Fixtures & Fittings |
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| Computer Equipment |
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1.4.
Investment Properties
Investment properties comprise freehold properties held for their investment potential. They are shown at director's valuation and are not depreciated. Any change in their value is shown as a movement on the revaluation reserve. Any net deficit, if it exceeds previous years' surplus is charged to profit and loss account.
1.5.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
1.6.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2020 | 2019 | ||
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| Office and administration |
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Page 3
AT Properties Limited
Notes to the Financial Statements (continued)
For The Year Ended
5 April 2020
6.
Tangible Assets
| Investment Properties | Fixtures & Fittings | Computer Equipment | Total | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Cost | ||||
| As at
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| Additions | 473,626 |
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| As at
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| Depreciation | ||||
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| Provided during the period | - |
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| As at
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| Net Book Value | ||||
| As at
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7.
Investments
| Unlisted | |
|---|---|
| £ | |
| Cost | |
| As at
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1 |
| As at
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1 |
| Provision | |
| As at
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- |
| As at
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| Net Book Value | |
| As at
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1 |
| As at
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1 |
The company owns the entire share capital of 1 £1 ordinary share in AT Investments Limited, a company incorporated in England.
Page 4
AT Properties Limited
Notes to the Financial Statements (continued)
For The Year Ended
5 April 2020
8.
Debtors
| 2020 | 2019 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Due after more than one year | |||
| Amounts owed by associates |
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9.
Creditors: Amounts Falling Due Within One Year
| 2020 | 2019 | ||
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| £ | £ | ||
| Bank loans and overdrafts |
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| Corporation tax |
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| Other creditors |
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| Director's loan account |
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| Amounts owed to subsidiaries |
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10.
Creditors: Amounts Falling Due After More Than One Year
| 2020 | 2019 | ||
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| £ | £ | ||
| Bank loans |
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Bank loans comprises of loans advanced for the purchase and restoration of the company's investment properties. The main lenders are Paragon Mortgages Limited and the Bank of Ireland. The loans, which are secured on the properties, are interest only and are repayable after a period of 25 years. The advances have been made under several different interest rate charging arrangements.
Page 5
AT Properties Limited
Notes to the Financial Statements (continued)
For The Year Ended
5 April 2020
12.
Reserves
| Revaluation Reserve | |
|---|---|
| £ | |
| As at
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| As at
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13.
Related Party Transactions
The company has outstandings loans amounting to £447,808 made to associated companies. The loans have no repayment timescale and the rate of interest charged is 0%. At the balance sheet date, the loans were still outstanding and are presented within debtors: due after more than one year.
14.
Ultimate Controlling Party
The company's ultimate controlling party is
A F Towey
by virtue of his ownership of 100% of the issued share capital in the company.
15.
General Information
AT Properties Limited
Registered number
04939007
is a limited by shares company incorporated in England & Wales. The Registered Office is 27 Ribblesdale Place, Preston, PR1 3NA.
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